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SimAirline.net - Message Boards • View topic - Emirates

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 Post subject: Emirates
PostPosted: 27 Nov 2009, 19:21 
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So far, this news has nothing to be related to Emirates, but the foundation of Dubai emporium is starting to crack down, maybe some watch on one of the biggest spenders buying planes, Emirates.

http://news.yahoo.com/s/ap/20091127/ap_ ... bt_fallout


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 Post subject: Re: Emirates
PostPosted: 27 Nov 2009, 19:44 
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Perhaps the biggest effect Emirates can have is a drop in traffic. So far, the Emirates Group is relatively unaffected, though now they will have to start watching their finances or risk reducing the entire group.

An interesting conversation is going on in Airliners.net regarding Emirates/Dubai and Etihad/Abu Dhabi. Abu Dhabi is not willing to help out their neighboring emirate more than it has already (IIRC Abu Dhabi has lent Dubai nearly $19bn). Many thought the federal government of the UAE would help out Dubai, and that's not the case. As far as Emirates and Etihad, they kinda speculate that it'll be the same scenario. Emirates is the UAE's largest airline. Should it be in financial trouble, Abu Dhabi won't do much to save Emirates in order to dedicate itself to Etihad...

Something like that. Either way, it's surprising seeing how two emirates under one flag are very different in terms of spending...and helping each other out. Not saying that Abu Dhabi should bail out Dubai, but at the very least offer a little more help.

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 Post subject: Re: Emirates
PostPosted: 01 Dec 2009, 22:10 
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Today the Emirate government announce that they will not stand for the Dubai Group, in a few words, you are on your own. In that situation, Emirates will need to start to be profitable.


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 Post subject: Re: Emirates
PostPosted: 01 Dec 2009, 22:52 
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jmmen wrote:
Today the Emirate government announce that they will not stand for the Dubai Group, in a few words, you are on your own. In that situation, Emirates will need to start to be profitable.
Can you demonstrate that they are not?

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 Post subject: Re: Emirates
PostPosted: 01 Dec 2009, 23:32 
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On the contrary. Abu Dhabi said they'll help Dubai under certain circumstances. What they said was that even though Dubai World is owned by the government, since they do not actively manage it, Dubai (the emirate) will not be held responsible for Dubai World's debt.

Again, the press confusing everything. What's bankrupt is Dubai World, a company owned (but not managed) by the emirate. Dubai is not in a position to help Dubai World (they also have to tighten their belts or risk falling into the same situation), so the company has looked to neighboring Abu Dhabi to help them, which in turn replied that they'll assist on a case by case basis. The official statement from the emirate Dubai was that
Quote:
the Dubai World debts are "not guaranteed by the government


In other words, "don't look to us for help. You got in that mess by yourself and I don't have to bail you out".

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 02:39 
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So the ridiculous spending in Dubai comes to an end.... Perhaps their accountants are figuring out that you really can't spend billions and billions without making money.

I, for one am happy to see the bubble burst.

Emirates is currently profitable last I heard, so I don't see any major risk unless Dubai itself goes under which would kill tourism.

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 15:10 
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What Nick said. My feelings all along.

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 17:20 
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First, I get lost in translation, sorry,
Quote:
Emirates will need to start to be profitable
what I meant was that Emirates must keep been profitable, to sustain in some way DubaiWorld, and itself.
But this situation will make some damage, call it lost of confidence, less investors, whatever, but in the end, the bad situation will catch Emirates.


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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 19:04 
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You're confusing things. Dubai World and the Emirates Group have nothing to do with each other. Dubai World is a company which takes its name from Dubai (the emirate). Emirates Airlines belongs to the Emirates Group. Emirates Group is independent as is Dubai World. Look at it this way:

Say American Airlines is the official airline of Orlando, FL. Say Disney World goes bankrupt. In what way would American Airlines be affected by Disney World's bankruptcy? Traffic will drop, sure. But there are other routes and other things to be done in Orlando.

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 19:58 
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Dennis wrote:
You're confusing things. Dubai World and the Emirates Group have nothing to do with each other. Dubai World is a company which takes its name from Dubai (the emirate). Emirates Airlines belongs to the Emirates Group. Emirates Group is independent as is Dubai World. Look at it this way:

Say American Airlines is the official airline of Orlando, FL. Say Disney World goes bankrupt. In what way would American Airlines be affected by Disney World's bankruptcy? Traffic will drop, sure. But there are other routes and other things to be done in Orlando.
Yes but the impact would be massive, especially if Universal also goes under. It would be an incredible trickle down effect, less tourism = less business, etc.

Without tourism, a vastly weakened economy and business in Dubai hit extremely hard, Emirates would be in serious trouble.

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 20:44 
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Northwestdc9 wrote:
Dennis wrote:
You're confusing things. Dubai World and the Emirates Group have nothing to do with each other. Dubai World is a company which takes its name from Dubai (the emirate). Emirates Airlines belongs to the Emirates Group. Emirates Group is independent as is Dubai World. Look at it this way:

Say American Airlines is the official airline of Orlando, FL. Say Disney World goes bankrupt. In what way would American Airlines be affected by Disney World's bankruptcy? Traffic will drop, sure. But there are other routes and other things to be done in Orlando.
Yes but the impact would be massive, especially if Universal also goes under. It would be an incredible trickle down effect, less tourism = less business, etc.

Without tourism, a vastly weakened economy and business in Dubai hit extremely hard, Emirates would be in serious trouble.

Coupled with the Tiger Woods thing and it could get really ugly in Orlando. :rolling:

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 Post subject: Re: Emirates
PostPosted: 03 Dec 2009, 21:06 
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Taking in consideration that Dubai has one of the smallest oil reserves between OPEP countries, is the main reason to bet it´s future as a business, investors, tourism country. Surely, isn´t the end of the world, but it will hurt.


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